Boston Scientific Corporation (NYSE: BSX)

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. The company operates in three segments: Cardiovascular, Rhythm Management, and MedSurg. It offers interventional cardiology products, including coronary stent systems used in the treatment of coronary artery disease; coronary technology products used to treat patients with atherosclerosis; intraluminal catheter-directed ultrasound imaging catheters and systems for use in coronary arteries and heart chambers, as well as peripheral vessels; and structural heart therapy systems.
To review Boston’s stock, please take a look at the 1-year chart of BSX (Boston Scientific Corporation) below with my added notations:

BSX has been trading sideways for the last 5 months. Over that period of time the stock has formed a resistance area around $14 (red). In addition, the stock has also created a strong level of support at $12.50 (blue) that was also a resistance back in October. At some point the stock will have to break out of its current consolidation.

The Tale of the Tape: BSX has levels of support at 12.50 and resistance at $14. The possible long positions on the stock would be either on a pullback to $12.50, or on a breakout above $14. The ideal short opportunity would be on a break below $12.50.
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